gigisulivan
Another sign of bull phase ending
Net Unrealized Profit and Loss metric trending up strongly with a very sharp vertical Bitcoin's price growth clearly indicates it is time for taking profits (similar to SOPR I've covered in separate quicktake) as most smart investors do when markets are overheating. As you can see on the screenshot, we very rarely see NUPL holding above 0.6 for too long before a sharper price correction occurs. We have been in the "overbought" zone for almost 3 weeks now and in the past it took between 3 to 6 weeks before a stronger correction in price occurred and since we are not in main bull phase yet (next cycle has not even started as we are still pre-halving) I think we will see that correction clearly starting before the end of March if not already started this week. Any stronger BTC price correction should result in cooling off in NUPL and if you see it dip below 0.3, you should consider accumulating Bitcoin again.